In Q1 order intake remained strong across markets. However, an unusual delivery situation impacted deliveries in two geographical segments: EMEA (Europe and Middle East) and Americas (North and South America). This created an order backlog significantly above normal, leading to a total revenue for Q1 2018 of 257.5 mEUR and an organic growth of 1.3%.
By April 2018 the delivery performance had improved significantly and the order backlog was reduced, leading to a solid organic growth of 4.4% for the first four months of 2018. This was driven by a strong performance in EMEA, delivering an organic growth of 6.2%, and APAC with organic growth of 5.1% in the first four months of 2018.
Hans Henrik Lund, CEO for Nilfisk commented:
“Looking at the first months of 2018, the solid momentum from 2017 continued. We have seen a strong order intake across markets and throughout the quarter. This has led to a solid growth for the first four months of 2018, which leaves us very confident in terms of our full-year outlook.”
In addition, Nilfisk reports good progress on the strategic initiatives to simplify the company for the benefit of both customers and the organization. For example, Nilfisk has started an ambitious project to simplify its product portfolio, which will have a positive impact on both the backend and frontend of the business.
For 2018, Nilfisk expects organic growth in the range of 3.0% to 4.0%. The EBITDA margin before special items is expected to be in the range of 11.5% to 12.0%. Access the full Q1 Interim Report 2018: investor.nilfisk.com
